What changes have been made by Ministry of Finance with the notification of GSTR-1A amendment in the outward supply form
The Ministry of Finance has notified GSTR-1A to amend the outward supply form as part of an excise policy change.
- Introduction of GSTR-1A: The Ministry of Finance has introduced GSTR-1A to amend the outward supply form in line with the excise policy changes.
- Amendment of Outward Supply Form: The GSTR-1A amendment allows taxpayers to make corrections in their outward supply details which were auto-populated from the GSTR-1 filed by their suppliers.
- Scope of Amendment: Taxpayers can modify the details of supplies such as invoices, credit notes, and debit notes based on discrepancies or changes identified post the filing of GSTR-1 by the supplier.
- Enhanced Compliance: The GSTR-1A notification aims to enhance compliance and accuracy of outward supply reporting by providing taxpayers with the option to rectify errors or inconsistencies.
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10 months ago